Insurance Services

An insurance policy underwritten to cover sales to a single buyer. In many cases, this coverage is sought after due to the insured obtaining a new client or expanding sales to an existing client under terms which are more aggressive than prior trading history. This coverage is primarily available through EXIM Bank and a select number of private insurers. Given the risk is concentrated in a single account debtor, coverage tends to be more restricted and harder to obtain.

Talk with us today about your insurance needs. We would love to learn more about your business and help you find the right solution.

EXIM Bank provides lenders with a 90% guarantee and permits the lenders to provide working capital loans to its customers with the following parameters:

• Up to 75% advance rate on export-related inventory

• Up to 90% advance rate on foreign receivables

• Standby letters of credit (“SBLC”) issued as bid bonds and performance or advance payment guarantees can be issued with collateral as low as 10% of the value of the SBLC.

Our team at Impello Global has nearly 15 years of experience working with EXIM Bank and their Working Capital Program. We have assisted banks and companies to obtain delegated authority, establish internal best practices, and develop formal credit policies and procedures. We have built a lasting relationship with the EXIM Bank team and have successfully processed and collected on claims when needed.

If you are thinking about offering this program to your clients or looking for ways to improve and grow your current capabilities, Impello Global can assist. Our team will conduct a full analysis of your current capabilities and provide a step by step plan to implement and optimize your team’s performance. We also offer services to help you manage the program over time or through a transition, tailored to your specific situation.

To read more: EXIM Bank WCGP

Key account insurance is intended to cover a specific segment of clients, other than credit quality. For example, companies often look to insure their top 5 or 10 customers, or may want to insure all sales in a specific geography. Other examples of when a key account policy makes sense is when a company factors or sells select customer receivables and the factor or buyer of the receivables requires insurance.

Talk with us today about your insurance needs. We would love to learn more about your business and find ways to help you finance your growth.

Impello Global partners with our banking clients to allow them to offer these loan structures without requiring the expense of hiring an internal team. We work with our clients from the beginning stage of identifying the opportunity through documentation and funding and then continue to provide ongoing support until each loan is fully repaid.

If you are thinking about offering any of these programs to your clients or are looking for ways to improve and grow your current capabilities, Impello Global can assist. Our team will conduct a full analysis of your current capabilities and provide a step by step plan to implement and optimize your team’s performance. We also offer services to help you manage these program over time or through a transition, tailored to your specific situation.

Much like the opposite of Key Account insurance, some clients choose to insure all receivables, except a specific segment, which is often referred to as a multi-buyer policy. Examples of this would be insuring all foreign receivables except Canadian receivables. Policies insuring all domestic receivables, all foreign receivables or both domestic and foreign are also referred to as multi-buyer insurance policies.

In addition to risk mitigation, multi-buyer insurance policies are often used to improve a company's access to working capital financing. Lenders often limit collateral eligibility for receivables that have concentration risks, longer payment terms, or that are payable from foreign account debtors. By insuring those receivables, lenders will often include them as eligible collateral, and therefore, improve the company's access to working capital financing.

Whether you are looking to insure against a default by one of your clients or to improve your company's access to working capital financing - or both, we would be delighted to help you find the right solution.

By leveraging trade credit insurance to mitigate the enforcement risk associated with foreign A/R, banks can enable its client base to include insured foreign A/R as eligible collateral. As a result, collateral availability will increase, allowing the bank to offer larger loan facilities to meet their client’s needs.

Impello Global’s experience implementing insured receivable finance programs is unmatched in the industry. We work hand in hand with our clients to write, implement, and improve internal credit policies along with ongoing compliance and monitoring programs. In addition to making sure our clients internal policies and procedures are impeccable, we work closely with our client’s borrowers to make sure they also have proper procedures in place to comply with their policy requirements.

Medium term insurance is a more specialized insurance coverage, primarily intended for capital equipment sales. Generally, the coverage period will range from one - five years, with exceptions up to seven years for specific types of capital equipment. In most cases, these policies are written on a single buyer basis, require some form of down payment with a prearranged payment schedule and are documented with a promissory note. The majority of medium term insurance policies are structured to include a bank as a funding source. Therefore, the ability to understand the banking requirements is critical for these programs to be successful.

Our team has spent the past 15 years actively structuring, insuring, and funding medium term transactions. We would welcome an opportunity to learn more about your business and help you structure and implement a successful medium term program.